Donaco International Ltd, an Australia-listed operator of several border casinos in Southeast Asia, said in a Monday filing that what it termed “the dispute” relating to the Star Vegas Resort and Club (pictured), Donaco’s Cambodian casino venue, had been “formally concluded”.
In late December, Donaco announced to the Australian Securities Exchange that it had gained approval from key lender Mega International Commercial Bank Co Ltd, known as Mega Bank, on the casino firm’s “settlement of all legal cases” with third parties – referred to previously as “the Thai vendor” – relating to the Cambodia property located at Poipet, on that country’s border with Thailand.
The Thai party became last year a significant shareholder in Donaco, following a series of changes in the firm’s ownership structure, linked to a fundraising exercise by the company.
“The company wishes to thank all parties in reaching this settlement,” stated Donaco in its Monday filing.
“In addition, as recently detailed… the business has continued to improve to a positive EBITDA [earnings before interest, taxation, depreciation and amortisation] as impacts from Covid-19 have moderated from earlier extreme levels,” said Donaco.
The operator further noted: “The company’s debt has been reduced significantly and a solid platform for growth is now emerging.”
Donaco’s other Asian casino hotel, Aristo International, is at Lao Cai, on Vietnam’s border with China.
Jul 23, 2021Macau casino operator Sands China Ltd is to have a “full opening” for Londoner Court, with its 300-plus accommodation units, in time for October Golden Week, said on Friday, Wilfred Wong Ying Wai...
“We see that basically the ‘golden’ periods [for Macau's casino industry] are all concentrated in the second half of this year”
Lei Wai Nong
Macau’s Secretary for Economy and Finance